Local Business Enterprise Joint Venture Completes Transition of Four Landmark SFMTA Parking Contracts

Impark, one of North America’s largest parking operators, announced today it has completed the transition of four San Francisco Municipal Transportation Agency (SFMTA) garages into its management. The five-year parking management contracts were awarded to Impark joint venture company IMCO Parking in three phases over the past six months with the final transition taking place on May 1st, 2012.

The four properties total more than 5,400 parking spaces, and include the largest parking structure in San Francisco; the Fifth & Mission garage, spanning one full East-West block between 4th and 5th Streets on Mission Street, and offering 2,585 spaces. Located close to the center of San Francisco shopping and entertainment, the landmark garage is one of the busiest in the City, operating 24 hours a day, 365 days a year.

Additional properties include the St. Mary’s Square Garage located at 433 Kearny Street and the Golden Gateway Garage located at 250 Clay St; both garages serve the financial district. The most recent to transition to IMCO management are the two parking structures that comprise the Japan Center Garage, located on Geary Blvd, where 940 spaces serve San Francisco’s Jazz district and the local Japanese cultural district.

All four contracts are to be managed by IMCO; a joint venture between Impark and Convenient Parking, an organization certified under the City's LBE Program. “I am very proud to be working with Impark on these major projects” said Fred Bekele, owner of Convenient Parking. “While we have partnered with Impark on various projects since 2005, the new SFMTA contracts are a tremendous opportunity for a developing local business such as ours”.

“The SFMTA contracts represent significant growth for Impark in the city, and an excellent complement to Impark’s other major parking operation at the San Francisco Giants’ AT&T Park”, commented Jeff Ogle, Impark’s General Manager in San Francisco. He added, “Our team looks forward to working with the SFMTA to deliver excellent service to the many customers in these important parking facilities”.

Imperial Parking Corporation (Impark), with U.S. headquarters in Philadelphia, PA and corporate headquarters in Vancouver, B.C., Canada, is one of the largest parking management companies in North America with more than 2,000 locations and 3,700 employees.

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